Heico Corporation (NYSE:HEI) Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Heico Corporation by 17.3%, holding 83,409 shares after selling 17,401 shares during the first quarter.
• Heico's recent quarterly earnings report showed an EPS of $1.12, exceeding analyst expectations, with a revenue increase of 14.9% compared to the same period last year.
• The company declared a semi-annual dividend increase to $0.12 per share, reflecting a dividend yield of 10.0% as of the latest payment date.

Azimuth Capital Investment Management LLC lowered its stake in Heico Corporation (NYSE:HEI - Free Report) by 17.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,409 shares of the aerospace company's stock after selling 17,401 shares during the quarter. Heico makes up about 0.9% of Azimuth Capital Investment Management LLC's holdings, making the stock its 29th biggest position. Azimuth Capital Investment Management LLC owned about 0.06% of Heico worth $22,286,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ridgewood Investments LLC grew its position in shares of Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 46 shares during the period. NBC Securities Inc. acquired a new position in shares of Heico during the 1st quarter valued at about $27,000. Costello Asset Management INC purchased a new position in shares of Heico during the 1st quarter worth about $27,000. Banque Transatlantique SA purchased a new position in shares of Heico during the 4th quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Heico by 17,800.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock worth $48,000 after acquiring an additional 178 shares during the period. Hedge funds and other institutional investors own 27.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HEI shares. Stifel Nicolaus set a $352.00 price objective on shares of Heico and gave the stock a "buy" rating in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Heico from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Barclays set a $280.00 target price on Heico and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Truist Financial increased their target price on Heico from $323.00 to $352.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company increased their target price on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Heico presently has a consensus rating of "Moderate Buy" and an average target price of $301.45.

Insider Activity

In other news, Director Alan Schriesheim sold 35,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the sale, the director directly owned 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the sale, the director owned 1,500 shares of the company's stock, valued at $448,650. This represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,656 shares of company stock worth $28,534,115 over the last ninety days. Corporate insiders own 9.55% of the company's stock.

Heico Trading Down 0.5%

NYSE:HEI opened at $311.41 on Friday. The business's 50-day moving average is $317.10 and its two-hundred day moving average is $276.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. The firm has a market capitalization of $43.32 billion, a PE ratio of 72.76, a price-to-earnings-growth ratio of 3.90 and a beta of 1.11.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company posted $0.88 earnings per share. The firm's revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.12 per share. This is a boost from Heico's previous semi-annual dividend of $0.11. This represents a dividend yield of 10.0%. The ex-dividend date was Tuesday, July 1st. Heico's payout ratio is 5.61%.

Heico Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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